Ord 1466COUNCIL BILL N0. 203
ORDINANCE N0. 1466
AN ORDINANCE RELATING TO THE ISSUE AND SALE OF BONDS FOR IMPROVE-
MENT OF THE FIRE PROTECTION SYSTEM OF THE CITY OF WOODBURN, AMENDING
SECTION 1 OF ORDINANCE.NO. 1460, AND DECLARING AN EMERGENCY.
THE PEOPLE OF THE CITY OF WOODBURN DO ORDAIN:
Section 1. WHEREAS, the third paragraph of Section 1 of Or-
dinance No. 1460 of the City of Woodburn provided in pertinent part,
for a bond interest rate ", not exceeding 7 per cent per annum,"; and
WHEREAS, the Notice of Sale published pursuant to
Section 3 of Ordinance No. 1460 provided, in pertinent part, for a
bond interest rate ", not exceeding a net effective rate of 7 percent
per annum,"; and
WHEREAS, in the opinion of bond counsel it is essen-
tial that the pertinent ordinance interest rate provision be amended
to conform to the pertinent published Notice of Sale interest rate
provision; now, therefore, the third paragraph of Section 1 of Or-
dinance No. 1460 is amended to read as follows:
"The bonds shall be dated April 1, 1975, and shall
be payable in lawful money of the United States of America and shall
bear interest at the rate designated in the proposal accepted there-
for, not exceeding a net effective rate of 7 per cent per annum, which
interest shall. be payable on the first day of October, 1975, on the
first coupon, and thereafter on the first day of April and the first
day of October of each year subsequent to the date of issue unless
sooner redeemed as hereinafter specified. Principal and interest shall
be payable at the office of the City Treasurer of the City of Woodburn."
Page 1. - Council Bill No. 203
Ordinance No. 1466
Section 2. The amendment shall not be interpreted to abrogate,
amend or affect any other portion of Ordinance No. 1460 than the par-
agraph amended by this ordinance and the Notice of Sale as published
is approved, ratified and validated.
Section 3. This Ordinance being necessary for the immediate
preservation of the public peace, health and safety, an emergency is
declared to exist, and this Ordinance shall take effect upon its
passage by the Council and approval by the Mayor.
APPROVED
al E. Pickering, yor
Passed by the Council
Submitted to the Mayor
Approved by the Mayor
Filed in the Office of the Recorder
March 26, 1975
March 26, 1975
March 26, 1975
March 26, 1975
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ATTEST ~ ;~ ~`~~~, ~ ti ~ ~`, .~
arney Or. Burris, Recorder
City of Woodburn, Oregon
Page 2. - Council Bill No. 203
Ordinance No. 1466
I, BARNEY 0. BURRIS, Recorder of the City of Woodburn, do
hereby certify that I caused to be posted three copies of Ordinance
No. 1466 , one of which said copies posted in the City Hall on the
bulletin board opposite the entrance to the Recorder's Office, in
full view of the traveling public; a second one of said copies posted
on the Woodburn Public Library bulletin board at 280 Garfield Street,
in full view of the traveling public; a third one of said copies
posted on the Paul Sowa and Sons building at 182 Young Street, in full
view of the traveling public; that all of said places are public places
within the corporate limits of the City of Woodburn and that all of
said copies were posted on the :~ ,....{day o~~-~~~~~~~..-~~ ,~,:;,~,~ , 1975.
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Barney 0~ Burris, Recorder
City of Woodburn, Oregon.